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Technology Stocks : UMG - MediaOne Group -- Ignore unavailable to you. Want to Upgrade?

To: David Lee who wrote (847)	5/6/1999 1:51:00 PM
From: TheSlowLane	Read Replies (2) \| Respond to of 891

.95 shares of T and $30 cash for each UMG share. MSFT is offering to buy $5 billion of T stock if they can have control of the cable set-top boxes. So far, it looks like T is amenable, but I don't think any benefits will accrue to the shareholders directly. Unless you call running Windows CE in your set-top box a benefit. Sounds more like an abomination to me. I'd vote for Java in the set-top , myself.

To: David Lee who wrote (847)	5/7/1999 9:59:00 AM
From: MangoBoy	Respond to of 891

[FACTBOX - Key details of AT&T/Microsoft/MediaOne] NEW YORK, May 6 (Reuters) - Software giant Microsoft Corp. said on Thursday it would take a $5 billion stake in AT&T Corp., the No. 1 U.S. long-distance company, forging an alliance to speed the delivery of voice, video and Internet services into millions of American homes. AT&T also finalized its pact to acquire cable television company MediaOne Group Inc.in a cash and stock deal initially valued at $58 billion but worth more than $59 billion based on AT&T's stock price on Thursday. The AT&T-MediaOne pact, initially reached on Saturday, topped an earlier $48.2 billion merger deal MediaOne had struck with fellow cable company Comcast Corp. Following are key details of the transactions. AT&T AGREED TO: Pay $30.85 in cash plus 0.95 of an AT&T share for each MediaOne share. Expand its use of Windows CE-based licenses to cover an additional 2.5 million to 5 million set top devices in its cable system. AT&T had already committed to use the system in 5 million such devices. AT&T said its owned and operated systems will pass about 25 million homes after the MediaOne deal is completed. License Microsoft client/server software that supports a range of digital services such as email and interactive television entertainment. MICROSOFT AGREED TO: Buy $5 billion of a new issue of AT&T 30-year convertible preferred securities and warrants. The preferred issue will be priced at $50 a security, have a quarterly payment of $0.625 per share and be convertible into 66.7 million AT&T shares at $75 each. The conversion feature of the securities can be terminated after three years. The warrants will be exercisable in three years to buy 40 million AT&T common shares at $75 per share. Acquire MediaOne Group Inc.'s (NYSE:UMG) 29.9 percent stake in British cable group Telewest Communications Plc. (ISEL:TWT) through a tax-free exchange of an undisclosed amount of Microsoft shares. MICROSOFT & AT&T AGREED JOINTLY TO: Deploy Microsoft's client/server television software in two cities by the second quarter of 2000. AT&T plans to use Microsoft's client software in conjunction with unidentified third-party server software in an additional city. COMCAST AGREED TO: Purchase assets including a total of up to 2 million cable subscribers from AT&T and MediaOne for about $9 billion. MEDIAONE AGREED TO: Pay a $1.5 billion break-up fee to Comcast for terminating their merger deal.